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Slideshow | Foreign Brokerages Bullish On These 5 Stocks, Expect 15-53% Upside

Here are the 5 stocks on which foreign brokerages maintained buy with an upside of 15-53%.

Apr 22, 2020 / 11:34 AM IST
Indian indices fell more than 3 percent on April 21 on the back of weak global cues amid huge fall in crude future prices. Here are the 5 stocks on which foreign brokerages maintained buy with an upside of 15-53%.
Benchmark indices wiped off more 3 percent on April 21 on the back of weak global cue due to a flash crash in US crude futures. Here are 5 stocks global brokerages are betting on for a 15-53% upside:
L&T | Brokerage: HSBC | Rating: Buy | Target: Rs 1,000 | CMP: Rs 870 | Upside: 15 percent. The company appears to be coping well with COVID-19-led disruptions, while near-term working capital intensity may worsen due to slower collection, reported CNBC-TV18.
L&T | Brokerage: HSBC | Rating: Buy | Target: Rs 1,000 | CMP: Rs 870 | Upside: 15 percent. The company appears to be coping well with COVID-19-led disruptions, though the near-term working capital intensity may worsen due to slower collection.
3| HDFC Bank Limited : Rs 6.73 trillion
HDFC Bank | Brokerage: Axis Capital | Rating: Buy | Target: Rs 1,250 | CMP: Rs 920 | Upside: 26 percent. The bank is best placed to navigate COVID-19-led disruptions. Meanwhile, it has tightened its credit filters resulting in higher rejections.
Marico | Brokerage: Jefferies | Rating: Buy | Target: Rs 400 | CMP: Rs 296 | Upside: 35 percent. Jefferies prefers Marico on category resilience and better share gain chance and forecast 6% revenue decline, reported CNBC-TV18.
Marico | Brokerage: Jefferies | Rating: Buy | Target: Rs 400 | CMP: Rs 296 | Upside: 35 percent. Jefferies prefers Marico on category resilience and better share gain chance and forecast 6% revenue decline.
HCL Technologies | Brokerage: Nomura | Rating: Buy | Target: Cut to Rs 570 from Rs 700 | CMP: Rs 455 | Upside: 25 percent. The company's IMS & products business offer defensibility in an uncertain environment. The broking house estimate dollar revenue growth of -1% & +8% and margin of 18.1% & 18.8% in FY21 & FY22, reported CNBC-TV18.
HCL Technologies | Brokerage: Nomura | Rating: Buy | Target: Cut to Rs 570 from Rs 700 | CMP: Rs 455 | Upside: 25 percent. The company's IMS & products business offer defensibility in an uncertain environment. The broking house estimate dollar revenue growth of -1% & +8% and margin of 18.1% & 18.8% in FY21 & FY22.
6| Infosys Limited: Rs 3.36 trillion
Infosys | Brokerage: CLSA | Rating: Buy | Target: Cut to Rs 800 from Rs 970 | CMP: Rs 633 | Upside: 53 percent. The revenue pressure is expected in Q1 due to client discretionary spending cuts. However, the strong deal wins and pipeline provide optimism for H2 growth & margin recovery.
Rakesh Patil
first published: Apr 22, 2020 11:34 am

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